1. Required: Calculate the following amounts for May.

Work-in-Process: May 1

Work-in-Process: May 31

Finished Goods: May 31

Cost of Goods manufactured: May

Adjusted Cost of Goods Sold: May

Assume that the management of H. S. Job, Inc. calculated an estimated overhead application rate of $5 per direct labor hour.

At the beginning of the year one job was on hand. Job #678 had accumulated 200 kilogram of materials at $2 per kilograms and 100 hours of direct labor at $12 per hour.

During the year Job #678 was completed and Jobs #679, 680, and #681 were started. Job #678 and #679 were delivered to their respective customers, while Job #681 had not yet been completed.

Actual overhead for the period was $11,500. Any over or under applied overhead is charged to cost of goods sold for the period.

The following job cards were available at the end of the year.

	Job # 678 April Direct Material 200 kilograms at $2 per kilogram April Direct Labor 100 hours at $12 per hours April Machine Time 50 hours May Direct Material 200 kilograms at $2 per kilogram May Direct Labor 700 hours at $12 per hours May Machine Time 200 hours
	Job # 679 May Direct Material 225 kilograms at $2 per kilogram May Direct Labor 900 hours at $12 per hours May Machine Time 300 hours
	Job # 680 May Direct Material 150 kilograms at $2 per kilogram May Direct Labor 600 hours at $12 per hours May Machine Time 200 hours
	Job # 681 May Direct Material 50 kilograms at $2 per kilogram May Direct Labor 75 hours at $12 per hours May Machine Time 25 hours